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Nigeria's GDP Grows in First Quarter of 2019

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In the latest Nigerian Gross Domestic Product Report, the National Bureau of Statistics (NBS) disclosed that Nigeria's real Gross Domestic Product (GDP) has grown marginally in the first quarter of 2019.
According to the report the GDP rose by 0.12 percent point as against the fourth quarter of 2018 which recorded a decline of -0.38 percent points.

 

However, the performance of the economy has followed a slow pace since its recovery from recession in 2017.

According to the GDP report, the aggregate GDP is about N31.8 trillion in nominal terms, higher than that of 2018, which was N28.4trillion, indicating a growth of about 11.80 percent.

In the oil sector, the real GDP recorded a decline of -0.79 percent points, while in non oil sector, the GDP growth is about 2.47 percent, making it 1.72 higher than it was recorded in the same quarter of 2018.

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